We will be writing a detailed guide on how to change time in force on Webull.
Ready to take control of your Webull orders and learn how to master "Time In Force"? You're in the right place! This comprehensive guide will walk you through every step of changing your Time In Force (TIF) settings on Webull, ensuring your trades execute exactly when and how you intend. Let's dive in!
Understanding "Time In Force" on Webull: Your Key to Order Control
Before we get to the how, let's briefly touch on the why. "Time In Force" is a crucial aspect of order entry that dictates how long your order remains active in the market before it's automatically canceled. Without understanding TIF, your orders might expire before they have a chance to fill, or worse, linger in the market longer than you intended, potentially leading to unwanted executions. Mastering TIF gives you more control and precision over your trading strategy.
Common Time In Force Options on Webull:
Day: This is the default for most orders. Your order is active only for the current trading day and will be automatically canceled if not filled by market close.
Good Till Canceled (GTC): Your order remains active for an extended period (typically up to 60 calendar days on Webull, though this can vary) or until it is filled or you manually cancel it. This is ideal for limit orders you want to keep active for longer durations.
Immediate Or Cancel (IOC): Any portion of your order that can be filled immediately will be. The remaining unfilled portion is canceled.
Fill Or Kill (FOK): Your entire order must be filled immediately and completely, or it is canceled. If even a single share cannot be filled, the entire order is canceled.
Good Till Date/Time (GTD): This option allows you to specify a custom date and time for your order to expire.
Now, let's get to the practical steps!
Step 1: Initiating a Trade on Webull
The first step to changing your Time In Force is to start the process of placing an order.
1A: Navigating to the Order Entry Screen
On the Webull Mobile App:
Open the Webull app and log in.
Locate the stock or option you wish to trade. You can do this by searching for the ticker symbol in the search bar at the top, or by finding it in your watchlist or portfolio.
Once on the asset's detail page, tap on the "Trade" button, usually located at the bottom of the screen.
On the Webull Desktop Platform:
Launch the Webull desktop application or access the web platform via your browser.
Search for the ticker symbol of the asset you want to trade in the search bar.
Click on the "Trade" button or select the "Trade" tab within the asset's detail window. This will open the order entry panel.
Step 2: Selecting Your Order Type
Before you can adjust the TIF, you need to choose your order type. The available TIF options might vary slightly depending on the order type you select.
2A: Choosing Between Buy/Sell and Order Types
On the order entry screen, you'll see options for "Buy" or "Sell." Select the appropriate action.
Next, you'll need to choose your order type. The most common ones you'll encounter are:
Market Order: An order to buy or sell immediately at the best available current market price. (Limited TIF options usually apply here, primarily Day or IOC/FOK).
Limit Order: An order to buy or sell at a specific price or better. (This is where GTC and GTD become very useful).
Stop Order (Stop Loss/Stop Limit): An order that becomes a market or limit order once a specified "stop price" is reached.
Trailing Stop Order: An order that trails the market price by a specified amount.
For the purpose of demonstrating TIF, we will primarily focus on Limit Orders as they offer the most flexibility with TIF settings.
Step 3: Locating and Modifying the "Time In Force" Setting
This is the core step where you'll find and adjust your Time In Force.
3A: Finding the TIF Option
Once you've selected your order type (e.g., Limit Order), look for a section or dropdown labeled "Time In Force," "TIF," or similar. Its exact placement might vary slightly between the mobile app and desktop platform, but it's generally visible within the main order entry panel.
On the Mobile App: It's often found below the price and quantity input fields. You might need to scroll down slightly or tap on an "Advanced" or "More" options button to reveal it.
On the Desktop Platform: It's typically clearly labeled as a dropdown menu within the order entry module.
3B: Selecting Your Desired Time In Force
Tap or click on the "Time In Force" option. A list of available TIF options will appear.
Carefully review the options and select the one that best suits your trading strategy:
Day: Choose this if you want your order to expire at the end of the trading day.
GTC (Good Till Canceled): Select this if you want your order to remain active for an extended period. Remember to check Webull's specific GTC duration limit (usually 60 days).
IOC (Immediate Or Cancel): Use this if you only want your order filled immediately, and any unfulfilled portion canceled.
FOK (Fill Or Kill): Opt for this if you absolutely need your entire order filled instantly, or not at all.
GTD (Good Till Date/Time): If you choose GTD, a calendar and time selector will appear, allowing you to specify the exact expiration date and time for your order. Be precise with this setting!
Pro Tip: If you're setting a limit order for a stock you want to acquire at a specific price, GTC is often the preferred choice to ensure your order remains active over several days.
Step 4: Reviewing and Placing Your Order
Once you've set your desired Time In Force, it's crucial to review all the details before confirming your trade.
4A: Double-Checking Your Order Parameters
Before hitting that final "Buy" or "Sell" button, take a moment to confirm:
Asset: Is it the correct stock or option?
Action: Are you buying or selling?
Order Type: Is it a Limit, Market, Stop, etc.?
Quantity: Is the number of shares or contracts correct?
Price: If it's a limit order, is your limit price accurate?
Time In Force: Is the TIF setting exactly what you intended? This is where errors can occur if you're not careful.
Estimated Cost/Proceeds: Review the total cost (for buys) or proceeds (for sells).
4B: Confirming and Placing the Order
Once you are satisfied that all details are correct, proceed to place your order. The button will typically say something like "Place Buy Order" or "Place Sell Order."
Webull will usually present a final confirmation screen for you to review before the order is sent to the market. This is your last chance to catch any mistakes!
Confirm the order. You'll then receive a confirmation that your order has been placed.
Step 5: Monitoring and Managing Your Open Orders
After placing an order with a specific Time In Force, it's essential to monitor its status.
5A: Accessing Your Open Orders
On the Webull Mobile App:
Tap on the "Orders" tab, usually located at the bottom of the screen.
Within the "Orders" section, you'll find tabs for "Open Orders," "Filled Orders," "Canceled Orders," etc. Navigate to "Open Orders."
On the Webull Desktop Platform:
Look for the "Orders" window or tab, which is often a default panel in your workspace.
Select "Open Orders" to view all your currently active orders.
5B: Modifying or Canceling Open Orders
If your order has not yet been filled, you have the option to modify or cancel it.
Locate the specific open order you wish to change.
Tap or click on the order. You'll typically see options like "Modify Order" or "Cancel Order."
If you choose to "Modify Order," you might be able to adjust the price, quantity, or even the Time In Force (though sometimes it's easier to cancel and re-enter if significant changes are needed).
If you "Cancel Order," the order will be removed from the market, and you'll receive a confirmation.
By diligently following these steps, you'll become proficient in changing and managing your Time In Force settings on Webull, giving you greater control and confidence in your trading endeavors. Happy trading!
10 Related FAQ Questions
How to check the current Time In Force of an open order on Webull?
You can check the TIF of an open order by going to the "Orders" tab (mobile) or "Orders" window (desktop) and then navigating to "Open Orders." Tap or click on the specific order, and its details, including the Time In Force, will be displayed.
How to change Time In Force for a recurring investment on Webull?
Recurring investments on Webull typically have a predefined TIF (usually Day) as they are executed at market close on a specific day. You generally cannot customize the TIF for recurring investments in the same way you can for individual manual orders.
How to set a "Good Till Date" for an order on Webull?
When placing an order, select "GTD" (Good Till Date/Time) from the "Time In Force" options. A calendar and time selector will then appear, allowing you to specify the exact date and time you want your order to expire.
How to know if my order filled or expired on Webull?
You can see the status of your orders in the "Orders" tab/window. Filled orders will appear under "Filled Orders," while expired or canceled orders will be listed under "Canceled Orders" with a reason for cancellation (e.g., "Expired").
How to find the default Time In Force settings on Webull?
The default TIF for most orders on Webull is "Day." While there isn't a global "default settings" option for TIF, it is automatically set to "Day" unless you manually change it when placing an order.
How to use Immediate Or Cancel (IOC) effectively on Webull?
IOC is useful when you only want your order filled immediately and are not interested in having any remaining portion linger in the market. It's often used by active traders who want quick execution of a specific amount, or by those who want to test market liquidity.
How to differentiate between Fill Or Kill (FOK) and Immediate Or Cancel (IOC) on Webull?
The key difference is that FOK requires the entire order to be filled immediately or it's completely canceled. IOC will fill any portion that can be filled immediately and then cancels the remaining unfilled portion.
How to cancel a Good Till Canceled (GTC) order on Webull?
To cancel a GTC order, go to your "Open Orders" list within the "Orders" tab/window, find the GTC order you wish to cancel, and select the "Cancel Order" option.
How to set Time In Force for options contracts on Webull?
Changing TIF for options contracts follows the exact same process as for stocks. When you enter an options trade, you will find the "Time In Force" dropdown within the order entry screen, offering the same options like Day, GTC, IOC, etc.
How to prevent an order from being canceled at the end of the trading day on Webull?
To prevent an order from being canceled at the end of the trading day, you need to select a "Time In Force" other than "Day." The most common alternative is "Good Till Canceled (GTC)," which keeps your order active for up to 60 days, or "Good Till Date/Time (GTD)" if you want to specify a custom expiration date.
